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A gourmet coffee shop in downtown SF is open 200 days a year and sells an average of 75 pounds of Kona Coffee beans a day. (Demand can be assumed to be distributed normally with a standard deviation of 15 pounds/day.) After ordering (fixed cost = $16 per order), beans are always shipped from Hawaii within exactly 4 days. Per-pound annual holding costs for the beans are $3. a) What is the economic order quantity (EOQ) for Kona coffee beans? (400) b) What are the total annual holding costs of cycle stock for Kona coffee beans? ($600) c) What are the total annual fixed ordering costs for Kona coffee beans? ($600) d) Assume that management has specified that no more than a 1% risk during stock out is acceptable. What should our reorder point (ROP) be? (369.79) e) What is the safety stock need to attain a 1% risk of stock-out during lead time? (69.79) f) What is the annual holding cost of maintaining the level of safety stock needed to support a 1% risk? g) If management specified that a 2% risk of stock-out during lead time would be acceptable, would our safety stock holding costs decrease or increase?
What are the three trends that require managers to adopt a global perspective to exploit the potential of a new technology?
Past history says that tomorrow's demand for lettuce averages 230 boxes with a standard deviation of 33 boxes. How many boxes of lettuce should the supermarket purchase tomorrow?
the production manger advises the manufacturer that the factory should go for manufacturing instead of procuring them from the open market.list out reasons for the decision of the production manager backed up by the necessary data.
Expanding stadium in this scenario has a payoff of $10 million, whereas maintaining same number of seats has a payoff of only $3 million. Draw a decision tree for this problem. Illustrate what should management do to achieve highest expected payoff..
An electrical appliance will not work unless component QK does. Component QK's reliability is 0.95. Every other part of the appliance is 100% reliable. What would the reliability of the appliance be if a backup QK were added?
Describe how occupation affects morbidity and mortality.
Illustrate what are barriers to achieving se characteristics. Explain how would I know if organization was making progress towards becoming a learning organization.
What average cycle time is required for the assembly line to achieve the production quota in seven hours-If mixed-model scheduled is used, how many of each model will be produced before the production cycle is repeated?
Illustrate what is the Con present Engineering Approach also explain why should project managers be aware of it.
STUPID Inc. is an acronym for Strategic Topical Use of Pancron for Individual Dosage Incorporated. The company makes the drug Pancron for individual use in treating Urinary Dysfunction Disease - in direct opposition to FDA recommendations.
A manufacturing operation must periodically purchase bulk quantities of machine screws. The operation expects to consume 18,200 boxes of screws over the coming year.
Stressed and penniless after months of day trading, Mr. Baruch decides to invest his savings into a conservative growth mutual fund.
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